Tokyo-based JV to build liquified CO2 carriers by 2027: Japanese shipbuilding companies Mitsubishi Shipbuilding and Nihon Shipyard have launched a joint study for the development of an ocean-going liquefied CO2 carrier, with plans to complete construction by 2027, according to a press release (pdf). The carrier is being developed to meet rising demand for the safe transport of large volumes of liquified CO2 in anticipation of future demand in light of carbon dioxide capture and storage projects, the statement said. The JV will leverage Nihon Shipyard’s commercial shipbuilding experience and technology and Mitsubishi’s extensive knowledge of design and construction of liquified gas carriers.

Northern Sea Route in the Arctic could become a year-round trade route in 2024: Novotek plans to launch year-round Arctic to Asia voyages via the Northern Sea Route (NSR) in 2024, according to a statement by the Kremlin. The new Arctic route, which runs through Russia’s northern flank, will significantly impact the global seaborne map as the arctic warms and allows for year-round transport, as opposed to just nine months a year now, considering the thick ice cover during the winter makes it impossible to ship goods. The route is currently being used mostly to ship hydrocarbons. Officials have previously mentioned their keenness to promote regular container shipments through the trade lane after heavily investing in its infrastructure.

Indian bank is trading with Russia in INR: Indian state-run lender UCO Bank is boosting trade with Russia and helping the country sidestep sanctions by making payments in INR, Bloomberg reports. UCO Bank has carried out 23 transactions between Russian and Indian businesses in INR in the past three to four months, UCO Managing Director Soma Sankara Prasad said, while adding that he expects to see more business as a tightened sanctions regime leaves Russia increasingly isolated from the international financial system. He also noted that transactions only involve commodities and companies that are not sanctioned.

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  • Uber and Alphabet’s self-driving car project, Waymo, will bring Waymo’s autonomous driving technology to Uber’s users via its ride-hailing and delivery networks, starting with Phoenix in the US. (Statement)
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